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What is Active Participation as a Real Estate Investor?
Active participation as a real estate investor typically involves taking an active role in the day-to-day management of a real estate investment property or portfolio. This can include[...]
What Is Reasonable Compensation
Reasonable compensation refers to the amount of compensation paid to an employee or owner that is considered reasonable and appropriate for the services they provide, given their role,[...]
What Are The Legal Requirements Of An S Corp?
A S corporation must meet the following legal requirements: Be a domestic corporation Have only allowable shareholders, including individuals, certain trusts, and estates and Not more than 100[...]
How is an Airbnb taxed?
Airbnb rental income is considered taxable income and must be reported on your tax return. Here's a brief overview of the tax implications for Airbnb rentals: Federal income[...]
How Does Having a Holding Company Help My Business?
A holding company is a type of company that doesn't have any operations or active business of its own, but instead owns other companies (subsidiaries) and holds their[...]
What Legitimate Expenses Can I Deduct As A Business Owner
As a business owner, you can typically deduct the following legitimate business expenses: Advertising and marketing costs Employee salaries and benefits Rent for business property Utilities for business[...]